JPMorgan Chase & Co. Issues Positive Forecast for Duolingo (NASDAQ:DUOL) Stock Price

Duolingo (NASDAQ:DUOL) had its target price upped by JPMorgan Chase & Co. from $94.00 to $125.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Wells Fargo & Company raised their target price on Duolingo from $81.00 to $82.00 and gave the company an “underweight” rating in a report on Tuesday, July 7th. Wedbush started coverage on shares of Duolingo in a report on Thursday. They set a “neutral” rating and a $139.00 price objective for the company. DA Davidson reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of Duolingo in a research report on Monday, June 29th. Weiss Ratings raised shares of Duolingo from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. Finally, Morgan Stanley upped their price target on Duolingo from $95.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday. Two research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $167.17.

Duolingo Stock Performance

Shares of Duolingo stock opened at $133.85 on Friday. The business has a 50-day simple moving average of $118.95 and a 200 day simple moving average of $119.29. Duolingo has a one year low of $87.89 and a one year high of $468.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 1.00 and a beta of 0.88.

Duolingo (NASDAQ:DUOL) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Duolingo had a return on equity of 14.07% and a net margin of 38.44%.The firm had revenue of $291.97 million during the quarter, compared to analysts’ expectations of $288.60 million. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year. On average, research analysts anticipate that Duolingo will post 2.76 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Stephen C. Chen sold 1,977 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $113.61, for a total transaction of $224,606.97. Following the completion of the transaction, the general counsel owned 52,807 shares in the company, valued at $5,999,403.27. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalie Glance sold 3,360 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $113.59, for a total value of $381,662.40. Following the completion of the sale, the insider directly owned 173,401 shares of the company’s stock, valued at $19,696,619.59. The trade was a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 9,506 shares of company stock valued at $1,073,864. Company insiders own 16.62% of the company’s stock.

Institutional Investors Weigh In On Duolingo

Several institutional investors and hedge funds have recently modified their holdings of DUOL. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Duolingo by 3.5% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 940 shares of the company’s stock valued at $385,000 after purchasing an additional 32 shares during the last quarter. Evergreen Capital Management LLC increased its holdings in Duolingo by 5.0% during the 2nd quarter. Evergreen Capital Management LLC now owns 818 shares of the company’s stock worth $335,000 after purchasing an additional 39 shares during the period. Public Employees Retirement System of Ohio raised its position in Duolingo by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 11,740 shares of the company’s stock valued at $3,778,000 after purchasing an additional 73 shares in the last quarter. Diversified Trust Co. lifted its holdings in shares of Duolingo by 4.5% in the 4th quarter. Diversified Trust Co. now owns 2,166 shares of the company’s stock worth $380,000 after buying an additional 93 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of Duolingo by 1.2% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 8,953 shares of the company’s stock worth $1,571,000 after buying an additional 105 shares in the last quarter. 91.59% of the stock is owned by hedge funds and other institutional investors.

Duolingo Company Profile

Duolingo, Inc (NASDAQ:DUOL) is a technology-driven education company that operates a widely used language-learning platform. Founded in 2011 by Luis von Ahn and Severin Hacker, Duolingo offers a freemium service featuring bite-sized lessons, gamified exercises and adaptive learning algorithms. The company’s core product is its mobile and web application, which supports instruction in more than 40 languages, ranging from widely spoken tongues such as English and Spanish to lesser-taught options including Irish and Swahili.

In addition to its flagship language courses, Duolingo has expanded its product suite to include the Duolingo English Test, an on-demand, computer-based English proficiency exam designed for academic and professional admissions.